National Securities began coverage on shares of Laredo Petroleum (NYSE:LPI) in a research report released on Tuesday, The Fly reports. The firm issued a buy rating on the oil and gas producer’s stock.
LPI has been the subject of several other reports. Zacks Investment Research downgraded Laredo Petroleum from a buy rating to a hold rating in a research report on Friday, October 20th. BMO Capital Markets dropped their target price on Laredo Petroleum from $14.00 to $11.00 and set a market perform rating for the company in a research report on Thursday, November 2nd. Williams Capital increased their target price on Laredo Petroleum from $13.00 to $14.00 and gave the company a hold rating in a research report on Wednesday, October 18th. JPMorgan Chase & Co. downgraded Laredo Petroleum from a neutral rating to an underweight rating and set a $13.00 target price for the company. in a research report on Friday, December 15th. Finally, Piper Jaffray Companies dropped their target price on Laredo Petroleum from $17.00 to $15.00 and set an overweight rating for the company in a research report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $13.91.
Shares of Laredo Petroleum (NYSE:LPI) traded up $0.13 during mid-day trading on Tuesday, hitting $10.78. The company had a trading volume of 1,973,717 shares, compared to its average volume of 2,249,592. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 4.16. Laredo Petroleum has a twelve month low of $9.46 and a twelve month high of $15.15. The company has a market cap of $2,610.00, a P/E ratio of 21.56, a P/E/G ratio of 2.40 and a beta of 1.32.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $205.82 million for the quarter, compared to the consensus estimate of $178.48 million. Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. Laredo Petroleum’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. analysts anticipate that Laredo Petroleum will post 0.52 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its position in shares of Laredo Petroleum by 24.4% during the second quarter. Wells Fargo & Company MN now owns 218,884 shares of the oil and gas producer’s stock worth $2,304,000 after acquiring an additional 42,994 shares during the last quarter. Caxton Associates LP bought a new position in shares of Laredo Petroleum during the second quarter worth about $6,819,000. Chicago Equity Partners LLC bought a new position in shares of Laredo Petroleum during the third quarter worth about $1,177,000. Castleton Investment Management LLC bought a new position in shares of Laredo Petroleum during the second quarter worth about $315,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Laredo Petroleum during the third quarter worth about $340,000.
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Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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